Waikato Tainui to streamline corporate structures
Media Statement 1 December 2008
For immediate use
Waikato Tainui to streamline tribal corporate structures
The Waikato-Tainui executive has approved a new structure designed to bring greater co-ordination and a shared vision to both the tribe’s economic and its cultural and social initiatives.
The need for infrastructural and constitutional change was supported by the Waikato-Tainui 195 tribal parliament, Te Kauhanganui, in April this year, with the tribal executive, Te Arataura, unanimously supporting the new structure last week.
Waikato-Tainui chairman, Tukoroirangi Morgan, said significant social and cultural priorities were identified in the tribe’s strategic plan, Whakatupuranga 2050, which was released in 2007.
“The review and streamlining of the tribe’s corporate structures is the next step in that journey, Mr Morgan said.”
“The priority for the new structure will be to ensure the tribe could meet the economic, social and cultural needs of the more than 50,000 members it served for the next half century,” he said.
Mr Morgan said at present Waikato-Tainui controlled two separate management groups, Tainui Group Holdings Ltd (TGH), which managed the tribe’s commercial interests, and the Waikato Raupatu lands Trust (WRLT) which is tasked with driving the tribe’s social and cultural initiatives. The WRLT is also responsible for distributing the $13.5 million dividend paid by the commercial arm last year.
Under the new structure a group chief executive will be appointed to oversee all of the tribe’s entities.
“This is a new position which will have a much broader responsibilities than either of the current CEO positions.”
Under the group chief executive a layer of general managers will be appointed to head existing and new units covering all of the tribe’s affairs,” Mr Morgan said.
“As a result six positions will be disestablished or changed, he said.”
Mr Morgan said all new and changed positions will be advertised both internally and externally.
Mr Morgan said the tribe had enjoyed spectacular commercial success under the direction and governance of a separate commercial board which will be retained under the new structure.
TGH will continue to be chaired by highly respected businessman John Spencer and the new the group chief executive will join its six member board.
Mr Spencer said Waikato Tainui is striving to achieve the goals as outlined in the Whakatupuranga 2050 strategic plan.
“On that basis the TGH board supports the new structure,” he said.